Results tagged “business”

The August riots that swept across London cost millions in clean-up costs and police overtime but did have a positive effect on one Canary Wharf-based company.

Legal recruitment firm Sean Smith Associates saw demand for its services boom as firms across the capital sought staff to cope with the increase in court cases.

Canary Wharf Group has agreed to reduce its $4.5billion claim against Lehman Brothers according to documents filed in the Bankruptcy Court in New York.

The claim against the collapsed bank was filed in September 2009, but with little chance of recovering the full amount CWG has decided to reduce the figure it seeks to $780million.

Barclays has reported a fall in profits for the first six months of this year, although it still made £2.6billion.

The Canary Wharf-based bank saw its profits drop by 33 per cent from the same period last year, and warned that it intends to shed at least 1,400 jobs to cut costs.

Canary Wharf's two Waterstone's bookstores have a new owner after the chain was bought by Russian billionaire Alexander Mamut for £53m.

It could signal a change of image for the stores in Cabot Place and Jubilee Place mall, with James Daunt - who will take over as managing director in July - promising every store would reflect the area they serve.

HSBC is to delay its decision on a potential move out of Canary Wharf until next year.

The bank has been hinting that it could move its global headquarters from the UK because of the likely imposition of tougher legislation when the Independent Commission on Banking publishes its report in September.

Legacy has been a much-overused word in recent years, particularly with large building projects like the Olympics.

So it comes as something of a surprise when one of the men in charge of the huge Crossrail project starts talking about its legacy, a full seven years before the first train is scheduled to run on its network.

Citigroup's Canada Square headquarters is reportedly up for sale for more than £1billion.

The 45-storey building at 25 Canada Square, which has 1.2million sq ft of office space has been put on the market by owners Glenn Maud and Derek Quinlan, according to the Financial Times.

The UK's first pay to sleep business has out grown its Canary Wharf home in a matter of days.

Podtime, launched last week by ex Merrill Lynch employee Jon Gray proved so popular that it has already been relocated to larger premises.

Sleeping on the job hasn't earned entrepreneur Jon Gray the sack, it has built him a business.

Canary Wharf workers are now able to catch up on 40 winks at Podtime, Jon's short-term pay-to-sleep capsules, launched at 25 Bank Street this week.

Life is a journey," says entrepreneur by day and Clifford Chance receptionist by night Una Tucker.

The opera singer turned massage therapist has been on a long and winding career path before she reached the point where she was ready to launch her own massage tool brand - Kneads Must.

These have been tough economic times but one Docklands-based organisation has been using its expertise to keep the cogs of co-operation turning between business and the community.

The East London Business Alliance (Elba) emerged in the late 1980s to help east London residents into jobs in the new Docklands development.

Dr Deepa Apte believes modern lifestyles are causing an increase in stress disorders.

At Ayurveda Pura, a recently opened spa in North Greenwich, she and her team use ancient Ayurvedic practices in a bid to combat this very modern affliction.

Employees need to take more responsibility for their own training and development to ensure the skills they have match business needs, according to recruiting group Hays.

Despite high levels of unemployment, industries like IT, finance and energy were still experiencing skills shortages and have roles they cannot fill.

Barclays has announced annual pre-tax profits of £6.065billion for 2010.

The figure represents a rise of 32 per cent on the bank's £4.585billion profit the previous year. Income for the group was up eight per cent to £31.44billion, while bad loan provision was down by 30 per cent.

When City worker Jonathan Hartland advertised his flat online, he was inundated with responses - offers of Viagra, a lady who ran a "massage business" and a guy who claimed to be a financial adviser to a Saudi prince. Looking for a reliable tenant and filtering through the spam proved a chore, but sparked the light bulb moment for a new business - Bigbleu.

"If the banks want to go because they are worried about being regulated properly, then let them. I say call their bluff."

That's the view of American analyst and author Michael Lewis on the veiled threat that some banks might leave London if reform leads to their break-up. But Lewis is critical of what he thinks is an empty threat.

These are tough times for many businesses, with job cuts, higher costs and falling sales as the Government's spending cuts start to take effect.

But there are some industries that thrive in a downturn - capitalising on people's need for quick cash or something to lighten the gloom. The Wharf examines how some of them are doing.

Ever wished you could be in two places at the same time? Need to pick up the dry-cleaning or get a key cut?

Oga Obianyor started her company two years ago with the aim of capitalising on busy workers who find themselves without the time to do such things themselves.

Barclays chief executive designate Bob Diamond will officially take up his role on New Year's Day - three months earlier than originally planned.

The bank announced this morning that Mr Diamond will succeed outgoing chief executive John Varley on January 1 after all transition activities were successfully completed.

True success can only be achieved when you are doing something well suited to your talents and passions, at least according to life coach Joy Watkins who uses aura readings to help empower people to fulfil their dreams.

American born Joy, 45, lives in Stratford where she runs her aura reading and life coaching business, Joyasha, visiting clients across London.